Friday, April 22, 2016

Green Fail: SunEdison goes belly up....

SunEdison Inc, once the fastest-growing U.S. renewable
energy company, filed for Chapter 11 bankruptcy protection on Thursday
after a short-lived but aggressive binge of debt-fueled acquisitions
proved unsustainable.
In its bankruptcy filing, the company said it had assets of $20.7 billion and liabilities of $16.1 billion as of Sept. 30.
SunEdison’s two publicly traded subsidiaries, TerraForm Power Inc and
TerraForm Global Inc, are not part of the bankruptcy. In a statement,
the companies, known as yieldcos, said they had sufficient liquidity to
operate and that their assets are not available to satisfy the claims of
SunEdison creditors.Keep on reading…